Peter Stas, Ceo of Frederique Constant, Aletta Stas director of Frederique Constant and Yousef Mohammed Rasool Khoory, general Manager of Mohammed Rasool Khoory & Sons were all gathered to attend the celebration of their partnership and Frederique Constant’s 10 years heart beat manufacture anniversary. Read more…
During the discussions in the advisory board, we often spoke about what makes FC different and what we see as the purpose of the company. From the beginning, we saw that ‘sensible prices’ were our competitive edge. The attractive prices were essential to reach a younger target group of 30-45 year olds who have limited budgets. Most are business men and women at the beginning of their career, in first management functions, but still at low salaries. At the same time, these people are starting families, which requires funds as well. Still, there is an enthusiasm for Swiss mechanical watches. It is for these persons that Frederique Constant offers beautiful time pieces. We determined that our company produced Accessible Luxury, beautiful Swiss watches from Geneva at sensible prices. We defined our purpose as ‘Let more people enjoy luxury’.
However, beautiful watches at sensible prices was not enough. We also had to work on the ‘luxury’ part of our purpose ‘Let more people enjoy luxury’. Hence, we started to discuss how to create an image around Frederique Constant. First step was the sponsoring of classic car rallies, the Healey partnership that developed into the Vintage Rally Universe. Then, followed the Runabout, the classic gentlemen’s sports boat. Finally, with the various charity activities, we developed a campaign and purpose for our ladies Double Heart Beat Collection.
Sponsoring and charity enjoy high priority at Frédérique Constant. You started with sponsoring, so let’s begin by talking about that.
Peter: In 2004, when our business was still located in Chêne-Bourg, we held a meeting with our advisory board.
Who were the board’s members?
If you had three wishes for your future and for the future of Frédérique Constant, what would they be?
- That we continue to grow;
- that there always be a place for independent, family-run watch manufactures because their existence encourages creativity in general;
- and that all people on our planet can enjoy good health. Through our charitable activities, we see time and again that people, especially children, suffer from cardiac insufficiencies. Within our modest means, we want to continue to do all we can to combat that problem.
True passion is the ultimate factor for entrepreneurial business success. Frederique Constant created the Frédérique Constant Passion Awards to celebrate the passion that is fundamental to entrepreneurial success.
The Fredérique Constant Passion Awards has been presented previous years to the most passionate entrepreneur at major Awards Ceremonies. The winner’s company was offered a Business Case Study by Professor Dominique Turpin of IMD Lausanne on a strategic issue of choice, as well as a solid gold Frédérique Constant Manufacture wristwatch.
Winners and short listed candidates cited the global recognition and publicity they received as the greatest benefit. Such international exposure validated their work amongst peers and opinion leaders at home and abroad.
The Passion Awards also build a network of passionate entrepreneurs worldwide.
The Financial Times was the Passion Award’s official media partner. Calls for submission where published in worldwide editions of the Financial Times.
Criteria and Process for the Award were clearly outlined on the Frédérique Constant Passion Award website. There were no restrictions of gender, age or nationality of candidates. Submissions from Social Entrepreneurs were also welcome.
Frédérique Constant timepieces are created with passion. Indeed, passion is the driver of our company’s success. With its slogan ‘Live your Passion’, we aim to attract customers who have a passion to succeed. Peter and Aletta Stas, both passionate watch aficionados and entrepreneurs at heart, founded Frédérique Constant in Geneva in 1988.
We just announced record first half year results with 26% growth compared to 2013.
We are proud to have realized our best first half year ever, and it clearly proves that our product proposition – Accessible Luxury – continues to have great potential. The initial concept behind the brand was to create Swiss Made, high quality and innovative watches at sensible prices To let more people enjoy luxury. Still today, it is this mission that drives our passion. We would like to take the opportunity to thank our worldwide partners for their continuous support to Frederique Constant.
We have seen a significant increase in activity across most of our regions in 2014. With our Accessible Luxury positioning, we have been gaining market share in the US$ 1,000 to 5,000 segment. Frederique Constant grew strongly in Japan, South Korea, Australia United States and Canada, which is expected to continue in the second half of 2014.
This year, Frederique Constant celebrates its 10th anniversary of its in-house handcrafted movements. Since 2004, Frederique Constant is delivering timepieces with manufacture movements that are in-house developed, in-house manufactured and in-house assembled. The company developed 15 in-house handcrafted calibers, including the last 2014 creation: the Heart Beat Manufacture FC-945 with Silicium Escapement Wheel, Silicium Anker and Silicium Plateau for improved accuracy and reliability.
Frederique Constant Heart Beat Manufacture Tourbillon FC-980G4S6 with Silicium Escapement Wheel and Silicium Anker. Limited Edition 10 pieces for the 10 Years Anniversary of Heart Manufacture.
In view of a good start in 2014 and our intensive programs of merchandising, training and promotional activities, as well as new product launches, sales growth is expected to be strong for the year as a whole. Over the past 25 years, Frederique Constant has experienced annual growth rates of 15-25%. This year, Swiss watch exports will realistically rise in the single digits, and we will outperform the market.
Excerpt from our book on Family and Children
Is it more difficult on the market for family businesses than for big corporations?
Peter: Basically, yes. We primarily work with agents, some of whom are better than others. Our distributors generally work very hard on our brand’s behalf, but we still have to conduct plenty of training sessions to highlight the achievements and remarkable values of Frédérique Constant.
Aletta: The alternative would be to set up our own stores, but we don’t want to go that route because it would be too costly and would entail a much greater investment of managerial effort. We already have three stores and I always emphasize that there won’t be more in the future.
So big corporate groups have an advantage? Read more…